Is Best Buy’s management buckling?

Is there trouble afoot at Best Buy? This week the electricals retailer announced that its European CEO Scott Wheway is to step down, making him the third top exec to leave since the chain launched in Europe just nine months ago.

Andrew Harrison, the chief operating officer of the European business has been promoted to president in his place.

Best Buy says that his departure has been long planned, and is part of its strategic plan to integrate its teams with partner company Carphone Warehouse, and as former head of Carphone Warehouse’s European business, Harrison is well placed to do that.

Wheway will continue to provide strategic and policy advice to Best Buy, but it does beg the question why are so many of the top dogs who helped launch the chain in the UK already on their way out?

DeVere Forster, who headed up its online business, stepped down in January just two months after the launch of its e-commerce site. He was replaced by services director Matt Kelleher.

Paul Antoniadis, Best Buy’s branded operations chief, also made a surprise exit just three months after Best Buy opened its first European store in Thurrock, Essex.

These three departures have fuelled speculation that Best Buy isn’t happy with the speed of its roll out in the UK. Best Buy’s original stated aim was for 80 UK stores, but a year down the line, it has opened only six.

A further five are in the pipeline, but much of the nation, and Europe, remains untouched by the US giant.

It obviously takes a while to build a presence in a new market, and if Best Buy’s US performance is anything to go by, a few years down the track and Best Buy will be firmly embedded in the UK consumer rhetoric.

However, a stable leadership strategy is the cornerstone of any successful retail business and these senior level shock-exists can’t be doing Best Buy any favours.

Recommended

Click here to read the cover feature: Is your price strategy broken?Click here to read case studies on Iceland and Robert Dyas Ocado has a branding job to do unlike that of perhaps any other retailer. Not only does it have the task of positioning itself as an online-only business against supermarkets that have a […]

Ferrero is to push its Kinder Surprise range on television for the first time in seven years as part of a £14m investment in its brands. The sweet maker aims to double its share of the children’s confectionery market.

You should read this

If you’re a regular follower of our columnist Mark Ritson, you’ll be used to him using a blend of well balanced arguments and frank no-nonsense views to convince you that he is right. Read Mark Ritson’s counter argument here And in case he can’t persuade you the first time around, he’s more than happy to […]

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Already a member?

Sign in

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Type anything and hit “enter”

Sign in

Not registered yet?

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.